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b'Victor Haghani began his career at Salomon Brothers in 1984, starting out in a research role before joining their prop trading desk. In 1992, Victor left Salomon to become one of the founding partners of Long Term Capital Management\\u2026\\nLTCM was an incredibly successful hedge fund, up until 1998, when it failed in a spectacular fashion. Causing the Federal Reserve to step in and organize a bailout, in order to prevent the possibility of a collapse in the global financial system.\\nVictor took a ten year sabbatical after the dust settled, and in 2010 he founded\\xa0an active index investing fund, Elm Partners.\\nFor this episode, much of our discussion is in reference to an experiment Victor carried out (with some involvement from Edward Thorp), on the patterns of how 61 participants would bet on a biased coin.\\n--\\nSponsored by TradeStation: Very few online brokers offer the services, the tools and the technology (all-in-one!) \\u2013 for active traders \\u2013 like TradeStation do. Learn more and get started here.\\nLearn more about your ad choices. Visit megaphone.fm/adchoices'